National Distributor And Its Network Receive Upwards Of 100 Doctor Referrals Per Day For Vascular Compression Therapy Solutions
Toronto, Ontario--(Newsfile Corp. - January 13, 2025) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX) ("Therma" or the "Company"), a developer and investment partner specializing in advanced diagnostic and medical device technologies, is pleased to announce that the Company has secured an initial purchase order for 100 Venowave VW5 units from a new national distribution partner Valor Medical Solutions of San Antonio, Texas. The initial purchase order is based on the success of the distributor's pilot tests around the HCPCS code reimbursement program. Valor Medical is just one of the Company's national distributors who have experienced successful pilot trials.
As a new national distribution partner of Therma Bright, Valor Medical looks to fill immediate needs of its current network of medical practitioners and their patients. The distributor, and its partners, receives upwards of 100 doctor referrals per day for vascular compression therapy solutions, and has seen great success in securing HCPCS code reimbursements within a normal 30- to 60-day timeframe. Valor Medical and its partners look to place orders on a regular basis of every few weeks, as they build greater awareness of the Venowave VW5 solution with their end clients. This initial purchase order for 100 Venowave VW5 units offers HCPCS code reimbursements that total a minimum of $81,955 USD, which equates to $117,952 CAD.
"We are excited to partner with Therma Bright in offering the Venowave VW5 to our national distribution network," shared Cindy Sebek Quick, Partner of Valor Medical Solutions. "This initial 100 unit purchase will fill the immediate demand on our partners, who anticipate early adoption of this special vascular compression therapy solution. We anticipate increasing our purchase order amounts every few weeks, as we build more product awareness of this device and the HCPCS code reimbursement program. Our own business sales team, and those of our partners, receive upwards of 100 doctor referrals per business day for vascular compression therapy solutions, and this solution fits many of their immediate needs."
"It's been an exciting journey for Therma Bright and its Venowave VW5 solution," shared Rob Fia, CEO of Therma Bright. "Furthermore, it has been a pleasure working with Cindy, who has been very successful in growing her business. Our team looks forward to being part of her further growth, along with our other national distributors; helping them market, sell and distribute our device within their medical communities. We anticipate great success of Venowave VW5 sales during 2025, and will provide the market updates on our progress as required."
The global compression therapy market was valued at $4.18 billion in 2024 and is projected to grow to $6.72 billion by 2033. This represents a compound annual growth rate (CAGR) of 7.30% from 2025 to 2033," per a Straits Research press announcement in November 2024.
About Venowave VW5
The Venowave VW5 is a compact, battery-operated peristaltic pump designed to diminish post-op pain & swelling and enhance blood circulation while harnessing the multitude of advantages that come with increased venous blood flow by 64% after 2 minutes of use, and 88% increased blood flow after 50 minutes of use. When positioned below the knee, the device generates a wave-form motion that promotes fluid displacement, improving circulation and lymphatic function. The FDA-designated Durable Medical Equipment (DME) device is currently the only Medicare approved reimbursable mobile mechanical compression system available in the US under its HCPCS code E0683, which provides a simple and comfortable mobile treatment solution for patients needing to accelerate post-operative recovery periods while also managing longer term pain and swelling issues.
About Valor Medical Solution
Valor Medical Solutions is a fast-growing distributorship of a variety of orthopedic implants and ancillary products primarily for the orthopedic industry. The Company's focus is a patient-centric business mindset making sure that all decisions are not only made with the customer's needs in mind, but what is best for the patients that Valor serves. Valor Medical's strong relationships within the communities it serves are due to its combination of the high level of integrity, expert product knowledge, and its ability to find solutions for the customers and their communities. Learn more at https://www.valormedicalsolutions.com.
About Therma Bright Inc.
Therma Bright develops and partners on cutting-edge diagnostic and medical device technologies that address key healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as future sales of Venowave and related technology as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
